Where was the value at?

Immediately within the first hour of the auction¬†draft it was clear that value was not easy to find.¬†Prices of players were not¬†excruciatingly high or overspent. But, these prices were high enough to ensure that there was not large values at the top either. Shrewd drafting made Saturday’s event an interesting battle of attrition as the player pool continued to shrink. As the pool shrank there was a¬†seemingly never ending pile of teams with money looming over each auction.

Immediately, it looks like the teams that left money on the table are the most hurt. 50% of the league, 8-teams spent 100% of their budget. Leaving zero dollars left on the table. Of the remaining teams:

The Foundation – $1
Beach Bum – $5
Senior Squids – $6
TBD – $10
Preseason Favorite – $10
We Talk Fantasy Sports – $14
Capital City Ironmen – $21
The Wilfred Brimley Fighting Diabeetuses – $28

In some cases that unspent auction money being left on the table is not terribly frightening. But, at the bottom of that list, I can only imagine the day after regret. Good fantasy baseball talent auctioned off in that $10-$20 range. Even if you did not need a particular player, at least that drafted player has value. These extra auction dollars left unspent, are lost. They have no value.

Moving on to the auction money that got spent. More importantly how that money got spent. We can see how efficient teams were compared to this setting of the FanGraphs Auction Calculator. Keep in mind this calculator does not factor in our dynasty format (the hidden and unknown value of opportunity cost for keeping guys), nor does it fully understand our relievers scoring. But, for this exercise, and based on the results of the draft, it was quite accurate.

value

 

What you see above is the chart of how each of the teams did. Teams with positive values, overspent according to the FanGraphs calculator and the teams with negative values found bargains. The rank is from 1 “most efficient” to 16 “least efficient”.

Now before you go and say well done and patting yourself on the back, this is removing a lot of context away from the story. I believe you are sitting in a great place if you were most efficient with value, and you spent all of your auction budget. My team The Foundation finds itself there, so take that bias for what it is worth.

If you did not spend all of your auction money and you were not efficient in how you spent the money either, well you may have some extra work to do. Maybe your projections and targets are valued differently than how FanGraphs did and if so you’re probably okay! FanGraphs and projections are¬†wrong more often than not.

Going a step further, let us take a look at everyone’s “best value”. What you should see below is a table¬†that has the FanGraphs calculator value, how much they were paid for in the auction, and then the difference.

 

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The best value of the day was projections wonder-boy Wei-Yin Chen who was bought for $17, and had been projected to be worth $48. Chen’s¬†transition to the National¬†League, to the Marlins ballpark and being away from the American League East is likely positive.

It does seems like pitchers stole the value show:¬†Alex Wood, CJ Wilson, James Shields, Jeff Samardzija and Jimmy Nelson were their representative team’s best value and created over $20 in value per player. Outfielders might be the next undervalued commodity in the draft as you see Alex Gordon, Nick Markakis, Melky Cabrera, Josh Reddick and Khris Davis on the list above.

Finally, we also have a look at each team’s “worst” value. Now, I must warn you. If you’re the kind of guy who’s into the hot young star and cannot stand to see them in any negative light, please look away.

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Corey Seager, Addison Russell, Carlos Correa and Byron Buxton. Phew these¬†boys cost a pretty penny to claim. Trea Turner, Noah Syndergaard, Randal Grichuk¬†and¬†Jurickson Profar were all also coveted prospects¬†on draft day. None of those guys are terribly far off in lost value, they’re all capable of being worth what they’re paid. Plus we have discussed before about the opportunity cost of getting said players. There is value in these overspends. But, how much?